GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.
Federal Reserve
Minneapolis Federal Reserve President Neel Kashkari stated that a rate cut by the US central bank is likely by December.
US household wealth reached a record high of over $160 trillion in the first quarter of 2024.
The White House is leading a campaign stressing the importance of maintaining Federal Reserve independence, notably in light of Trump's proposals that could compromise it.
The Federal Reserve and two other US regulators are reportedly considering a new plan to reduce a nearly 20% mandated increase in capital for the country's largest banks.
Corporate greed is not the main driver of US inflation, according to a new study released by the Federal Reserve Bank of San Francisco.
Atlanta Federal Reserve President Raphael Bostic has reportedly indicated that the US economy is likely slowing down, which could prompt interest rate cuts this year.
Billionaire investor Stanley Druckenmiller expresses dissatisfaction with the Biden Administration's economic policies, criticizing Treasury Secretary Yellen and Fed Chair Powell and blaming rising inflation on government spending.
US banks have observed a fresh decline in loan demand for industrial purposes and household demand for credit during the first quarter of the year, according to a Federal Reserve survey.
The US dollar dipped to a three-week low against the Japanese yen on Friday following reports of US jobs and wage growth slowed down in April.
Donald Trump's allies are devising a plan to undermine the Federal Reserve's independence. Here's what you need to know.
JPMorgan Chase CEO Jamie Dimon warns that persistent inflation, ongoing wars, and the Fed's tightening means there's a need for preparedness as the US economy may inevitably fail.
The Federal Reserve is facing pressure to implement more aggressive rate cuts amid a weakening jobs market.
Asian markets are poised for further gains after US markets' positive reaction to the Federal Reserve's signal that interest rates could be slashed by 75 basis points this year.
Federal Reserve and European Central Bank are set for major interest rate cuts, with BIS Chief Carstens noting progress in addressing inflation while cautioning central bankers to remain vigilant.
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